France Doubles Renewables Curtailment on Supply-Demand Mismatch
Renewable producers held back 2 terawatt-hours of generation in the first half of 2025, almost double the amount in the same period a year earlier, according to a report from grid operator RTE on Tuesday. Higher solar capacity and sunnier conditions drove much of this growth with the curtailment for the solar sector tripling to 1.2 terawatt-hours. From April to June, about 10% of solar generation was held back and 8% of wind.
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Judicial system needs ‘shake-up' after trader convictions, says Sir David Davis
Conservative MP Sir David Davis has said the judicial system 'needs a shake-up' after describing the convictions of two former financial market traders as a 'major scandal'. Tom Hayes and Carlo Palombo were found guilty over benchmark interest rate rigging in 2015 and 2019 respectively, but had their convictions quashed at the Supreme Court on Wednesday. The former UBS trader and the ex-vice president of euro rates at Barclays bank were said to have manipulated the London Inter-Bank Offered Rate (Libor) and the Euro Interbank Offered Rate (Euribor). Speaking at a press conference following the Supreme Court judgment, Sir David described the two men as 'scapegoats for the sins that led to the financial crisis'. He said: 'The implications are far-reaching and of course have been devastating for those caught up in it. 'There were several other people convicted of rate rigging, dozens of others who were either prosecuted, acquitted or not prosecuted. Their lives were upended too. 'This scapegoating exercise happened as a result of collusion between the banks and government agencies, including the SFO (Serious Fraud Office) and FCA (Financial Conduct Authority) and we're not done with that. 'This scandal also highlights the need for urgent reform within our justice system on a range of issues – the handling of expert witnesses right through to the rigidity of the appeals system.' In an 82-page judgment, with which Supreme Court president Lord Reed, Lords Hodge and Lloyd-Jones and Lady Simler agreed, Lord Leggatt said judges' misdirection to the juries had led to the men's wrongful convictions. He said: 'The history of these two cases raises concerns about the effectiveness of the criminal appeal system in England and Wales in confronting legal error.' Sir David said the Supreme Court justices 'did not unpack' why the appeal system fell into error in these cases. He said: 'I think the judicial system needs a shake-up, and this is the latest demonstrator of it, and we will be returning to it in the future.' Mr Hayes said he believes the trials of the two men became caught up in the politics of the financial crisis, adding that there was a 'big desire from institutions and politicians, acting in their own interest largely', for traders to go to prison. Asked about his thoughts on what role juries play in cases like his and Mr Palombo's, he said it was a 'dangerous idea' for complicated fraud and financial cases to be heard only by a judge. The former trader added: 'The jury is the last defensive barrier that every citizen in this country has between them and a wrongful conviction. 'And are juries perfect? No, they're not. Do they make mistakes? Yes, they do. And you know, it's the best of a whole load of options, none of which is perfect.' Ben Rose, part of Mr Palombo's legal team, said Wednesday's Supreme Court judgment is 'likely to offer a route' by which others who have been convicted in similar circumstances 'can right the wrong that has been done to them'. He also said there was a 'fundamental error' in the way the case was prosecuted and that the role of the jury was 'overridden and usurped' by the judges. The lawyer added: 'That should not happen in a country that abides by the rule of law.'
Yahoo
18 minutes ago
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EDP Renewables North America Announces 20-Year PPA with California Water Service
Power purchase agreement will provide Cal Water with 20 years of on-site distributed solar power at key Bakersfield District treatment facility Renewable energy generated by the solar array is anticipated to reduce grid energy costs by approximately $1.7 million over the term of the agreement BAKERSFIELD, Calif., July 23, 2025 /PRNewswire/ -- EDPR NA Distributed Generation LLC (EDPR NA DG), the distributed generation business of EDP Renewables North America LLC (EDPR NA), and California Water Service (Cal Water) have signed a 20-year power purchase agreement (PPA) for a 1.75 MWac /2.35 MWdc onsite solar photovoltaic (PV) array at Cal Water's Northeast Bakersfield Treatment Plant. The partnership is designed to reduce the utility's long-term environmental footprint. Cal Water and EDPR NA DG expect the system to generate approximately 3,800 megawatt-hours of renewable energy annually. The renewable energy generated by the solar array is anticipated to reduce grid energy costs by approximately $1.7 million over the term of the agreement, based on current electric rates for customers in the Bakersfield District, one of Cal Water's largest service areas. "At Cal Water, we are dedicated to being a responsible environmental steward, and partnering with EDPR NA DG will help us reduce traditional power costs, reach our science-aligned greenhouse gas emissions reduction targets, and increase sustainability," said Marty Kropelnicki, Cal Water Chairman and CEO. "We look forward to bringing this new onsite solar array online, which is an important step for us to continue providing safe, reliable, and affordable water service to our customers for decades to come." "California is a national clean energy leader because of organizations like Cal Water, which prioritize supporting renewable energy investments," said João Barreto, EDPR NA Distributed Generation CEO. "This partnership demonstrates the ever-increasing convergence of the water-energy nexus, and the importance of investment in vital infrastructure throughout California." EDPR NA and EDPR NA DG have been actively engaged in California for more than two decades, developing utility-scale and distributed-scale solar projects to support the state's growing energy demand. EDPR NA operates 1,138 MW of clean energy assets in California powering the equivalent of 451,000 homes. EDPR NA DG's portfolio in California spans more than 180 projects, including 75 MWac/81 MWdc in operation. In May 2024, EDPR NA announced the completion the 200 MW Scarlet II Solar Energy Park in Fresno County, California. Scarlet II follows EDPR NA's Scarlet I Solar Energy Park (Scarlet I), consisting of 200 MW of solar and 40 MW/160 MWh of battery energy storage system (BESS), which achieved commercial operation in 2024. Multimedia resources include: EDPR NA DG: Fact Sheet EDPR NA DG work with Municipalities and Local Government: Website EDPR NA (Utility-Scale Projects) in California: Fact Sheet About California Water Service California Water Service provides high-quality, reliable water utility services to more than 2.1 million people statewide through 499,400 service connections. Cal Water's purpose is to enhance the quality of life for customers and communities. To do so, it invests responsibly in water and wastewater infrastructure, sustainability initiatives, and community well-being. The company's 1,200 employees live by a set of strong core values and share a commitment to protecting the planet, caring for people, and operating with the utmost integrity. The utility has been named one of "America's Most Responsible Companies" and one of the "World's Most Trustworthy Companies" by Newsweek, a USA Top Workplace, and a Great Place to Work®. More information is available at About EDPR NA Distributed Generation At EDPR NA Distributed Generation LLC, accelerating the adoption and success of distributed generation is at the core of our mission. EDPR NA DG provides cutting-edge innovative renewable energy services to the entire North American region. Built on long-standing relationships with developers, power generators, corporate purchasers, municipalities, and local communities, EDPR NA DG delivers a full suite of offerings ranging from financing and development to construction and operation of energy and storage assets poised to scale. To date, EDPR NA DG has an operating capacity of 345 megawatts (MW) across 546 active more information, visit and follow us on LinkedIn. About EDP Renewables North America EDP Renewables North America LLC, its affiliates, and its subsidiaries develop, construct, own, and operate wind farms, solar parks, and energy storage systems throughout North America. Headquartered in Houston, Texas, with 61 wind farms, 26 solar parks, and eight regional offices across North America, EDPR NA has developed more than 12,000 megawatts (MW) and operates more than 11,400 MW of onshore utility-scale renewable energy projects. With more than 1,000 employees, EDPR NA's highly qualified team has a proven capacity to execute projects across the continent. For more information, visit and follow us on LinkedIn. About EDP Renewables EDP Renováveis, S.A. (Euronext: EDPR) is a global leader in renewable energy development with a presence in 28 regions in Europe, North America, South America and Asia-Pacific. With headquarters in Madrid and leading regional offices in Houston, São Paulo and Singapore, EDPR has a sound development portfolio of top-level assets and market-leading operating capacity in renewable energies. Particularly worthy of note are onshore wind, distributed and large-scale solar, offshore wind (OW - through a 50/50 joint venture), and technologies to complement renewables such as storage and green hydrogen. EDPR's employee-centered policies have received recognition such as Top Workplace 2023 in the USA, Top Employer 2023 in Europe (Spain, Italy, France, Romania, Greece, Portugal and Poland) Colombia and Brazil, and are also included in the Bloomberg Gender-Equality is a division of EDP, S.A. (Euronext: EDP), a leader in the energy transition with a focus on decarbonization. Besides its strong presence in renewables (with EDPR and hydro operations), EDP has an integrated utility presence in Portugal, Spain and Brazil including electricity networks, client solutions and energy management. EDP – EDPR's main shareholder – has been listed on the Dow Jones Index for 16 consecutive years, recently being named the most sustainable electricity company on the Index. 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Yahoo
18 minutes ago
- Yahoo
Chinese automakers gain ground in contracting European market, data shows
By Amir Orusov (Reuters) -Car registrations across Europe declined in June, with a 4.4% year-on-year drop to 1.25 million vehicles, data from Jato Dynamics showed on Wednesday. While overall demand softened, Chinese automakers continued to gain ground, taking a record market share and squeezing several established European brands, the research data showed. WHY IT'S IMPORTANT Chinese automakers are expanding in Europe, breaking into a market traditionally dominated by European and American brands supported by their cheaper pricing amid a shift towards electric vehicles. This has stoked trade tensions between Brussels and Beijing, including a row over EU tariffs on Chinese-made EVs, imposed to protect European producers. BY THE NUMBERS Chinese brands nearly doubled their combined share of the European market to 5.1% in the first half of 2025, just shy of Mercedes-Benz's 5.2%, the report said. Registrations of Chinese vehicles surged 91% since the start of the year. BYD, Jaecoo, Omoda, Leapmotor and Xpeng were the five names fuelling the surge, with BYD alone registering 70,500 units in the first six months of 2025, a 311% jump from a year ago. Stellantis saw the steepest market share decline among major automakers, to 15.3% from 16.7% a year earlier. The second biggest decline came from Tesla, to 1.6% in the half-year period versus 2.4% last year. Registrations of battery electric vehicles (BEV) surpassed one million for the first time in the first half, with a 25% rise to 1.19 million units — 17.4% of the market. KEY QUOTES "Persistently high prices, geopolitical and economic tensions with Europe's trading partners, and the postpandemic market reality are behind the decline," Felipe Munoz, global analyst at JATO Dynamics, said. "The updated Tesla Model Y has so far failed to provide the expected sales boost for the brand," Munoz said. "At the same time, competition from BYD and Volkswagen Group is making it harder for Tesla to maintain its leadership position."
